No Win, No Fee
What is a No Win No Fee claim with a Solicitor?
It is an agreement between a solicitor and client under which the client only pays the solicitor’s charges if the claim succeeds*. Here the risk factor falls mainly on the solicitor.
*You may also be charged a cancellation fee if you cancel your No Win No Fee claim before it has concluded.
Advantages of No Win No Fee claims
Claimants can get a significant advantage by filing a claim without the fear of expense or any losses.
It is a way to help claimants who may not have the funds needed to pay for litigation.
The Solicitor holds all the risk.
When a Solicitor agrees to support a Claimant on a ‘’No Win No Fee’’ basis, this assures a solid outcome and thereby it becomes less distressing for the Claimant.
Termination Fees
If you cancel your claim after 14 days the solicitor reserves the right to charge you a termination fee, please see the Damages Based Agreement for more information.
How a solicitor gets paid if a ‘No Win No Fee’ case is successful
If your solicitor is successful in winning the claim process, you are entitled to receive 100% of the awarded compensation, Now, out of that compensation amount received you can pay your solicitor fees and cost as agreed upon which usually is 40% + VAT. So it’s in the best interest of the solicitor to fight for the highest amount possible.
It is important that all essential points of agreements are written down as proof in writing before the trail and the objective is clear at both ends without the risk of losing.